Article By RoboForex.com
Analysis for December 18th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar, being influenced by the fundamental background, continued falling and extended its wave towards level of 1.2290. We think, today the price may reach this level and form a consolidation channel. If later the price breaks then channel downwards, the pair may reach a new low; if upwards – return to level of 1.2472.
GBP USD, “Great Britain Pound vs US Dollar”
Pound, being influenced by the fundamental background, continued falling towards a new low. The pair hasn’t been able to form a reversal pattern so far. We think, today the price may form another descending structure to reach a new low and then start forming a new consolidation range.
USD CHF, “US Dollar vs Swiss Franc”
Franc, being influenced by the fundamental background, continued growing. We think, today the price may reach a new high and form a new consolidation. After reaching level of 0.9835, the market is expected to start forming a reversal pattern.
USD JPY, “US Dollar vs Japanese Yen”
Yen, being influenced by the fundamental background, has tested level of 118.90 and is trying to extend this structure towards level of 120.20. After that, the price may continue falling to break the minimum.
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AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still falling inside the downtrend and reaching new lows. We think, today the price may reach level of 0.8500. The main downside target is at level of 0.7800.
USD RUB, “US Dollar vs Russian Ruble”
Ruble, being influenced by the regulator’s actions, is forming the third descending wave. We think, today the price may reach level of 53.30 and then continue falling towards the next target at level of 45.00. Possibly, this descending movement may continue without any corrections towards level of 60.00.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating and forming a structure to break its descending channel. We think, today the price may reach level of 1216. This ascending movement may be considered as the first part of an ascending structure with the target at level of 1250.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
